Fidelity Bank's earnings surged in the first quarter of 2026. Gross earnings climbed to N434.95 billion, up nearly 38 percent from the prior year.
The lender's interim report, filed at the Nigerian Exchange on Thursday, painted a picture of sustained expansion. Earnings had jumped from N315.42 billion in Q1 2025.
Interest income proved to be the main engine of growth. The bank collected N314.48 billion in interest during the quarter, a 22.8 percent jump year-on-year.
Net interest income came to N180.97 billion for the period. Before tax, the bank booked profit of N92.48 billion.
After settling its tax bill, bottom-line profit reached N74.47 billion. Earnings per share came in at N5.69, showing strong shareholder returns.
The bank's balance sheet tells an equally impressive story. Total assets crossed the N11 trillion threshold to hit N11.35 trillion by end of March.
That's a meaningful jump from N10.46 trillion in December. Customer deposits also rose sharply during the quarter.
Deposits climbed to N7.38 trillion from N6.89 trillion at year-end. Shareholder equity grew even faster, jumping 27.5 percent.
Equity reached N1.39 trillion by March, compared with N1.09 trillion three months prior. The strong numbers built on an exceptional 2025.
Last year proved transformative for the institution. Fidelity completed its recapitalisation drive while posting record earnings across the board.
In 2025, gross earnings hit N1.52 trillion, a 45.6 percent increase from 2024. Interest income alone grew 38.7 percent to N1.11 trillion.
Fee and commission income rose 44.7 percent to N113.4 billion. Net profit for the full year came to N242.4 billion.
The bank's asset base expanded meaningfully in 2025. Total assets grew 18.6 percent to N10.46 trillion from N8.82 trillion.
Deposit growth kept pace with loan demand. Customer deposits increased 16.1 percent to N6.89 trillion.
Loan balances actually contracted slightly during the year. Net loans fell 2.4 percent to N4.28 trillion as customers repaid maturing debts.
Capital strength improved across multiple metrics. Eligible capital reached N561 billion, well above the N500 billion regulatory floor.
The bank's capital adequacy ratio strengthened to 30.94 percent by December. A year earlier, it stood at 23.47 percent.
Managing Director Dr. Nneka Onyeali-Ikpe reflected on the milestone results.
In her words, the quarter confirmed the bank's "strong and resilient business model."
She highlighted the successful completion of the recapitalisation effort. According to her, Fidelity has now entered "a new era of growth and impressive returns."
"We are on a stronger footing," Onyeali-Ikpe told analysts. She expressed confidence the bank would "set new growth records reflective of our legacy and future."
